Market wrap 11/03/2021

The NSEASI edged lower by -0.57% today as Dangcem (-3.51%) pared some of the  gains recorded in the preceding session coupled with sell pressure on Zenithbank (-1.38%), UBA (-0.71%) and Dangsugar (-0.28%) dragged the broad index south. Nevertheless, market breadth improved with 2 gainers to every laggard. Key advancers were Guinness (+1.73%),Wapco (+0.23), ETI (+3.00%), Intbrew (+9.89%), Guaranty (+0.81%),  and Fbnh (+0.71%).

Market turnover was N2.12bln ($5.56mln) buoyed by mixed interest in trades in Dangcem, Seplat, Guaranty and Zenithbank. Year to date performance edged lower to to -3.88%. We expect the market to maintain a similar trading pattern in the coming session.


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